Lynch & Associates IN Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Lynch & Associates IN lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,341 shares of the electric vehicle producer’s stock after selling 197 shares during the period. Lynch & Associates IN’s holdings in Tesla were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter worth approximately $29,000. Clean Yield Group boosted its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in Tesla in the 3rd quarter worth $35,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $0.20 during trading on Friday, hitting $394.74. The company had a trading volume of 62,017,272 shares, compared to its average volume of 83,472,883. The stock has a 50 day simple moving average of $373.68 and a 200 day simple moving average of $279.12. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 108.15, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TSLA. Canaccord Genuity Group lifted their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $515.00 in a research report on Tuesday, December 17th. Truist Financial reaffirmed a “hold” rating and issued a $360.00 target price on shares of Tesla in a research note on Thursday, January 2nd. Cantor Fitzgerald increased their price target on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price objective on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $295.69.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.